Financing Constraints And Inventory Investment: A Comparative Study With High-Frequency Panel Data

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Robert E. Carpenter; Steven M. Fazzari; Bruce C. Petersen;
(1998)

This study provides new evidence of the importance of financing constraints for explaining the dramatic cycles in inventory investment. We compare the empirical performance of different financial variables (coverage ratio, cash stocks, and cash flow) used in previous re... View more
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